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Banking

Igor Kim: Russia's great consolidator

A prolific bank buyer but notoriously publicity-shy, Igor Kim is little known outside his native Russia. In his first major interview with the international media, he talks about expanding into Europe, surviving a spell on Canada’s sanctions list and why global banking models are doomed to failure.



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Illustration: Oliver Burston



In his 23 years in banking, Igor Kim has bought on average close to two banks a year. He has acquired them in just about every region of Russia, from Moscow to the extreme east. He has bought home-grown Russian banks and those left behind by western lenders dumping non-core holdings after the financial crisis. He has bought retail banks, corporate banks and specialist banks. 

Last year, he moved into central Europe, buying a small bank in the Czech Republic – and he is looking to expand his horizons still further into the Balkans and even western Europe.





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